Reinsurance Group of America, Incorporated (NYSE:RGA) Given Average Rating of “Hold” by Brokerages

Posted by on Jun 9th, 2022

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) have earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $127.67.

A number of research analysts recently issued reports on RGA shares. TheStreet lowered Reinsurance Group of America from a “b-” rating to a “c” rating in a report on Thursday, May 5th. Citigroup initiated coverage on Reinsurance Group of America in a research note on Monday, May 23rd. They issued a “sell” rating and a $110.00 price target on the stock. Zacks Investment Research upgraded Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 price target on the stock in a research note on Wednesday, April 6th. StockNews.com cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Saturday, May 14th. Finally, Morgan Stanley upgraded Reinsurance Group of America from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $126.00 to $132.00 in a research note on Thursday, May 19th.

In related news, Director Christine Rose Detrick sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total transaction of $487,362.00. Following the transaction, the director now owns 1,618 shares of the company’s stock, valued at $183,384.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.55% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of Reinsurance Group of America by 17.1% during the first quarter. Bank of America Corp DE now owns 958,246 shares of the insurance provider’s stock worth $104,890,000 after buying an additional 139,710 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Reinsurance Group of America by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 8,114 shares of the insurance provider’s stock worth $888,000 after buying an additional 253 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Reinsurance Group of America during the first quarter worth about $647,000. Toroso Investments LLC purchased a new position in shares of Reinsurance Group of America during the first quarter worth about $401,000. Finally, Polar Capital Holdings Plc grew its holdings in shares of Reinsurance Group of America by 13.4% during the first quarter. Polar Capital Holdings Plc now owns 615,000 shares of the insurance provider’s stock worth $67,318,000 after buying an additional 72,500 shares during the last quarter. 96.37% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:RGA opened at $125.30 on Thursday. The firm has a market cap of $8.39 billion, a PE ratio of 20.64 and a beta of 1.08. The stock has a fifty day moving average price of $116.15 and a 200 day moving average price of $111.22. Reinsurance Group of America has a 12-month low of $94.32 and a 12-month high of $127.22. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.40.

Reinsurance Group of America (NYSE:RGA – Get Rating) last released its earnings results on Thursday, May 5th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $1.08. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.89 billion. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. Reinsurance Group of America’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted ($1.24) earnings per share. Equities analysts forecast that Reinsurance Group of America will post 9.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, May 16th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 48.11%.

Reinsurance Group of America Company Profile (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

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